China's Bilibili Sees Third-Quarter Gaming Revenue Drop 17%, Pins Hopes on New Hit Escape From Duckov
Liu Xiaojie
DATE:  Nov 14 2025
/ SOURCE:  Yicai
China's Bilibili Sees Third-Quarter Gaming Revenue Drop 17%, Pins Hopes on New Hit Escape From Duckov China's Bilibili Sees Third-Quarter Gaming Revenue Drop 17%, Pins Hopes on New Hit Escape From Duckov

(Yicai) Nov. 14 -- Bilibili reported its revenue from games dropped 17 percent in the third quarter after scoring huge a year earlier with strategy mobile game San Guo: Mou Ding Tian Xia, with the Chinese video-sharing and gaming platform counting on new release Escape From Duckov to bring similar success.

Gaming revenue reached CNY1.5 billion (USD212.2 million) in the three months ended Sept. 30, the Shanghai-based firm said in a financial report released yesterday. Overall income rose 5 percent to CNY7.7 billion.

Escape From Duckov, a single-player top-down extraction shooter starring cute ducks, has sold over 3 million copies worldwide since launching on Oct. 16, putting it on the way to becoming the second-best-selling Chinese single-player game ever, Chen Rui, chairman and chief executive of Bilibili, said at an earnings conference call. Its peak concurrent player count on digital distribution platform Steam exceeded 300,000.

Escape From Duckov is only available on computers, but projects to launch it on consoles and mobile devices have already been initiated, Chen pointed out. 

Game Science's Black Myth: Wukong remains the top-selling Chinese single-player game ever. Released in August last year, it has sold 28 million units, getting over CNY9 billion (USD1.3 billion) in revenue.

Despite the drop in gaming revenue, Bilibili turned a profit of CNY469.4 million (USD65.9 million) last quarter versus a net loss of CNY79.8 million (USD11.2 million) a year ago, making it only its third quarter in the black since going public in March 2018, the report showed.

Revenue from value-added services, including memberships, rose 7 percent to CNY3 billion, that from advertising jumped 23 percent to CNY2.6 billion, and from intellectual property derivatives and other sources climbed 3 percent to CNY582.3 million (USD81.9 million).

Bilibili swung into the black for the first time in the fourth quarter of last year with a net profit of CNY88.9 million, thanks to the surge in revenue from San Guo. It then reported a loss of CNY10.7 million in the first quarter of this year, before logging a second-quarter profit of CNY218.3 million.

Shares of Bilibili [HKG: 9626] closed 1.8 percent down at HKD209 (USD26.89) each in Hong Kong today. Its New York-listed stock [NASDAQ: BILI] tumbled 4.8 percent to USD25.89 yesterday.

Editors: Dou Shicong, Martin Kadiev

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Keywords:   Bilibili,San Guo: Mou Ding Tian Xia,Escape From Duckov